PROG Holdings, Inc. (NYSE:PRG) Stock Position Lessened by Voya Investment Management LLC

Voya Investment Management LLC reduced its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,208 shares of the company’s stock after selling 3,101 shares during the quarter. Voya Investment Management LLC owned about 0.07% of PROG worth $1,192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in PROG during the 4th quarter valued at about $38,000. Sterling Capital Management LLC raised its holdings in PROG by 765.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock worth $46,000 after purchasing an additional 957 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in PROG by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after purchasing an additional 707 shares during the period. CIBC Private Wealth Group LLC lifted its position in PROG by 248.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock worth $57,000 after purchasing an additional 977 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in PROG during the 4th quarter valued at $68,000. 97.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Loop Capital cut their price objective on PROG from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Jefferies Financial Group lowered shares of PROG from a “buy” rating to a “hold” rating and reduced their price objective for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th. Finally, KeyCorp dropped their target price on shares of PROG from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

PROG Price Performance

NYSE PRG opened at $27.10 on Tuesday. PROG Holdings, Inc. has a 1 year low of $23.50 and a 1 year high of $50.28. The stock’s 50-day moving average price is $26.55 and its two-hundred day moving average price is $37.52. The company has a market cap of $1.09 billion, a PE ratio of 5.97 and a beta of 1.81. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. PROG had a net margin of 8.01% and a return on equity of 24.25%. The firm had revenue of $684.09 million during the quarter, compared to analyst estimates of $678.23 million. During the same quarter last year, the business posted $0.91 EPS. The company’s revenue was up 6.6% on a year-over-year basis. On average, analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Thursday, March 13th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.92%. This is a positive change from PROG’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 13th. PROG’s payout ratio is presently 10.66%.

Insider Buying and Selling

In related news, Director Caroline Sio-Chin Sheu bought 1,650 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average price of $28.01 per share, for a total transaction of $46,216.50. Following the transaction, the director now directly owns 18,291 shares in the company, valued at $512,330.91. This represents a 9.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas C. Curling purchased 10,000 shares of the stock in a transaction dated Friday, February 21st. The shares were bought at an average price of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the acquisition, the director now owns 45,913 shares in the company, valued at $1,371,880.44. This represents a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.21% of the company’s stock.

PROG Company Profile

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.